No interest in the old committed and loyal custom.
Initially they were good. When we inquired as to why our interest rate was so high when all other banks had lowered theirs, it was “oh you have an old loan”. No options were given until we said we were going to move banks.
Great product and even better provider. The loan application process was straightforward with no pressure or fuss, and very low fees. I've been with ME for many years having 3 home and investment loans.
ME get you in a lower fixed rate, then are very inflexible to dropping rates once you go to variable. They offer far better rates to new customers rather than looking after existing. They pretend to be a small bank but behave like a big one.
This bank was far better before the removal of an exit fee, introduced by the government. The mortgage department loans people got greedy and tried boosting our interest rates twice while the outlook was for them to fall. An archaic assessment process meant they weren't good on multiple properties. The loans may have changed now with the new laws but I'd recommend you do check. Ringing up and challenging their increases led to success in dropping interest rates so don't be shy. The phone in contact process works well and the staff have always been as helpful as they can be, so top marks there. For a forward thinking bank for investment loans go to Commonwealth.
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Owner Occupier, Principal & Interest
2.59% p.a.variableApply now to get this rate from 3 Apr
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